Following are some important points to cover when interviewing potential HOA management companies for your Association:
General Information
- How long in business
- Oldest accounts
- Largest accounts
- Clients similar to your association in size and type
- Have you inspected properties they manage
- Have you talked to other Board Members they represent
- Does the company specialize in homeowner’s associations
Cost Containment
- How committed is the company to saving dollars for the association
- Where have they realized their biggest savings
- Ask for examples of steps taken by the company in which their associations have realized cost reductions and the dollars saved as a result
Financial Information and Risk Concerns
- Track record in collecting delinquencies
- Method used for late payment notices
- Is financial reporting provided monthly
- How often are bills paid
- What accounting system do they use
- Is there a lockbox system which deposits homeowner assessments daily
- Are in-house delinquent collection services provided
- Are the company and its principals bonded
- Does they carry fidelity insurance
Assessments
- Does the company provide assessment notices, statements, or invoices
- Are assessments deposited directly into your association’s account when received by the management company
- Are association accounts kept separate
Operational Considerations
- Where is the management office located
- Have your Board Members visited the company’s offices
- Is the company growing or declining in stature
- What is the reputation of the company in the market place
- How many employees
- How many managers, administrative assistants and accountants
- Who is responsible when your Community Manager is out of the office or out of town
- What is your policy for returning calls and emails
- Do you track calls coming in and provide a call log with the management report
- How are weekend and after-hours calls handled
- What kind of emergency or disaster preparedness plan does the management company have for its properties
- Does the Manager’s supervisor also manage communities
- How many associations is a Community Manager responsible for
- What type of training is provided to Community Managers
- How many times will the property be visited/inspected each week
- Frequency of property inspection for CC&R’s and Rules Violations
- How well versed is the firm on legislation affecting associations, and is it pro-active in representing your association’s interests in such matters
- How do they keep Board members informed of legislative changes
Professional Credentials
- Is the company a member of CAI (Community Associations Institute)
- How many managers are PCAMs, AMSs and CMCAs (Professional Community Association Managers, Association Management Specialists, and Certified Manager of Community Associations)
- Is the company a member of AACM (Arizona Association of Community Managers)
- How many managers are CAAMs (Certified Arizona Association Manager)
- Does the company encourage and promote continuing education for their managers
Community Unity
- What is their philosophy of community unity
- How do they assist the Board in fostering a spirit of community
- How do they give back to the greater community � outside of the communities they manage
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